a form of revolving credit

a good option for borrowers who plan to pay off their home quickly but want the flexibility of access to cash

a great alternative to credit cards, construction loans, and consolidation loans

a home equity line of crdeit

a line of credit, as opposed to a loan for a specified sum, and it

a line of credit for some maximum draw, rather than a fixed amount loan

an actual line of credit

is a real estate loan, usually in a subordinate position, usually in a subordinate position, that allows a borrower to withdraw equity in real estate owned with specific limitations.

Home Equity Line of Credit. A HELOC is a revolving line of credit with a variable interest rate, based on the available equity in a mortgagor's home and other qualifying criteria. It is usually in a subordinate position, and allows a customer to advance and repay up to a certain amount by writing a check. Payments during the draw period are usually interest only, with amortized payments required after a certain time, typically ten years.

Home Equity Line of Credit. A mortgage loan, usually in second position, that allows the borrower to obtain cash drawn against the equity of his home, up to a predetermined amount.

A secured line of credit using the available equity in the applicant's residence as collateral. HELOC stands for Home Equity line of credit.

Home Equity Line of Credit. An open line of credit that can be used to draw equity of a property.

Home Equity Line of Credit. mortgage program of revolving credit that allows the customer to borrow at their discretion, repeatedly and at the time of their choosing.

Stands for Home Equity Line of Credit. Home equity lines of credit have revolving balances and work like a credit card.

Home equity line of credit. A line of credit secured by the equity in a home. Upon approval, the borrower can usually tap the credit line by writing line of credit checks or getting an advance. These loans can be used for home improvements, debt consolidation and other major purchases and expenses. Interest paid on the loan may be tax deductible (please consult a tax advisor). See home equity loan.

Home equity line of credit. A means of borrowing for homeowners who borrow against the home equity of their residence in order to make home improvements, consolidate debts, or make other significant expenses and purchases. The homeowner can access these funds with a credit card or checkbook.

Home Equity Lines of Credit. A mortgage, usually secured as a second or junior lien against the property, set up as a line of credit against which a borrower can draw up to a maximum amount, as opposed to a loan for a fixed dollar amount. For example, using a standard mortgage you might borrow $150,000, which would be paid out in its entirety at closing. Using a HELOC, you receive the lender's promise to advance you up to $150,000,in an amount and at a time of your choosing. You can draw on the line by writing a check, using a special credit card, or in other ways permitted by the lender.

Home Equity Line of Credit. A real estate loan that provides a revolving line of credit based on the equity available in your home.

Home Equity Line of Credit. A loan for which you can either receive a large sum of money or have an open line of credit that can be drawn as it is needed, with, typically, low interest rates.

(Home Equity Line of Credit) A line of credit that is secured against real property. Credit limit is determined by equity and credit score and quality.

Home Equity Line of Credit. An open-ended line of credit based on a homeowner's accumulated equity. Most loan amounts are limited to 75 to 85 percent of home's appraised value; withdrawals can be made at any time within the credit line's guidelines.

Home Equity Line of Credit. A line of credit that is secured by a property allowing the mortgagor to access their property's equity.

Home Equity Line of Credit. mortgage loan, which is usually in a subordinate position, that allows the borrower to obtain multiple advances of the loan proceeds at his or her own discretion, up to an amount that represents a specified percentage of the borrower's equity in a property.

Home Equity Line of Credit. A revolving line of credit loan based on the equity in the subject property. The HELOC is typically in a subordinated lien position and permits borrowers to obtain cash advances on the approved line of credit.

Home Equity Line of Credit. A mortgage that allows homeowners to use the equity in their home as collateral. Instead of receiving funds in a single lump sum, borrowers can draw funds as needed up to the pre-arranged amount.

A real estate loan, usually in a second lien position, allowing a borrower to withdraw equity in real estate owned with specific limitations. Basically, one can draw cash against his or her line of credit to use when needed.

Home Equity Line of Credit. A loan secured by your property which is usually in second position to your first mortgage. A HELOC is usually used for large purchases such as a remodel or college tuition.

Home Equity Line of Credit. Home Equity Lines Of Credit (HELOC) - A Home Equity Line of Credit is a secured line of credit or type of checking account that is tied to the equity in your home. It works much like a credit card in the respect that if you pay down the amount owed, you free-up the amount you can borrow on the credit line. You only incur interest costs on the money you take out of the account which is usually determined by the current prime rate. Most HELOC's start at a short-term "teaser rate" with a low APR. Once the "teaser period" has expired the APR will be indexed and accompanied by a margin of 0.0% or higher. There are very few restrictions, if any, that limit the amount it can adjust and how often. The life cap, however, is usually set between 16-18%. Say, for example, the prime index was at 6.5% with a margin of .5%. Your rate would be 7% for that given time.

An acronym for home equity line of credit.

Home Equity Line of Credit. A revolving line of credit based on the equity in the mortgagor's house. The property is the security for the loan, which is usable for any purpose.

Home equity line of credit. A line of credit secured by the equity in a borrower's residence. It can be used for home improvements, debt consolidation and other major purchases or expenses. Interest on these loans may be tax deductible. (Consult a tax advisor about tax deductibility of interest.) At closing, a credit limit is established. In most cases, the borrower can access the line of credit by a variety of access devices, such as convenience checks, debit cards and credit cards.

Home Equity Line of Credit. A loan secured by the equity value in a borrower's home, usually as a second mortgage. The funds are drawn as needed by using a special set of checks.

Home equity line of credit. a credit line that is secured by a first or second mortgage on real property. Equity lines of credit are revolving accounts that work like a credit card, which can be paid down or charged up for the term of the loan.

Home equity line of credit. A revolving line of credit secured by the equity value in a borrower's residence. A home equity line enables the home-owner to tap into the accumulated equity in their home. This is a reusable line of credit, since the principal balance becomes available as soon as it is paid back during the draw period. The line may be accessed by checks or other channels (at a Citibank Financial Center or ATM, online, etc.). Some uses for a home equity line of credit include: Remodeling the home, higher education, travel, automotive purchase or other life needs.

Home Equity Line of Credit. A loan, based on the borrower’s available equity in the home, that allows the borrower to withdraw and repay available loan proceeds on an ongoing basis.

Home Equity Line of Credit allows you to access the equity in your home. The interest rate on this type of loan is usually tied to the current prime rate.

HOME EQUITY LINE OF CREDIT. A revolving line of credit with a home used as collateral. It is usually a second mortgage, but can be a first in some cases. Credit Union bases the equity in a member's property by taking up to 90% of the appraised value less any first mortgage and the difference being the equity a member can borrow.

Home Equity Line of Credit. Also referred to as a revolving line of credit; usually a second mortgage, which allows the borrower to obtain multiple advances up to a specific credit limit.

Home Equity Line of Credit. Second mortgage product, generally characterized by interest only payments and the ability to draw, pay back, and redraw

Home Equity Line of Credit. A credit line offered to a home owner by a mortgage lender that borrows against the equity in the home owner's house. This type of loan requires you to use your home as collateral for the loan. It may offer certain tax incentives. Identity Theft - When your personal information such as your name, Social Security number, credit card number and other identifying information are used without your permission to commit fraud or other crimes.

Home Equity Line of Credit. A line of credit based on the equity in the borrower’s home, and uses the property as collateral

Much like a credit card, a HELOC is a revolving line of credit derived from available equity in a borrower's house.

A line of credit that is secured by the equity in ones home, so a borrower may draw cash off amounts already repaid.

Synonym for home equity line of credit. Also known as a HELOC loan.

A credit line secured by a second deed of trust on a house. Equity lines of credit are revolving accounts that work like a credit card; they can be paid down or charged up for the term of the loan. The minimum payment due each month is interest only.

Home Equity Line of Credit. A credit line that is secured by a second deed of trust on a house. Equity lines of credit are revolving accounts that work like a credit card, which can be paid down or charged up for a pre-determined term, usually 5 years, with interest payments only. After this term, the loan becomes a fixed second and no more equity can be taken.

Home Equity Line of Credit. A loan secured by real property, usually in a subordinate position, that allows the borrower to receive the loan proceeds in the form of multiple advances up to a limit that represents a maximum percentage of the borrower's equity in a property.

Home Equity Line of Credit. Secondary financing that consists of a revolving line of credit secured by a lien junior to a mortgage.

home equity line of credit. A real estate loan, usually in a subordinate position, that allows a borrower to borrow against equity in real estate owned (usually a primary residence or second/vacation home) with specific limitations. This is an open-end loan that permits the borrower to repay and re-borrow the funds available.

A Home Equity Line of Credit (often called HELOC, pronounced HEE-lock) is a loan in which the lender agrees to lend a maximum amount within an agreed period (called a term), where the collateral is the borrower's equity in his/her house.

a unique kind of second mortgag e, where the interest rate adjusts (typically monthly)